Wabash Welcomes Final U.S. Ruling on Unfairly Traded Chinese Trailer Imports; Canada and Mexico Investigations Advance Toward Final Decisions

Final antidumping and countervailing duty orders on Chinese van-type trailers and subassemblies follow affirmative Commerce and ITC determinations; Section 232 steel and aluminum tariffs continue to apply to imported trailers

LAFAYETTE, Ind., Oct. 06, 2026 (GLOBE NEWSWIRE) -- Wabash (NYSE: WNC), a member of the American Trailer Manufacturers Coalition (ATMC), today provided an update on U.S. trade actions affecting the North American trailer market. The update covers the antidumping (AD) and countervailing duty (CVD) investigations of van-type trailers and subassemblies from China, Canada, and Mexico, and the Section 232 steel and aluminum tariffs that apply to imported trailers.

China: Final affirmative determinations

On September 25, 2026, the U.S. International Trade Commission (ITC) found that imports of van-type trailers and subassemblies from China materially injure the U.S. industry. The vote followed the U.S. Department of Commerce’s August 26, 2026 final findings of dumping and subsidies, and Commerce will now issue duty orders. Trailers assembled in Canada from Chinese subassemblies are treated as Chinese products and are subject to the China duties.

Canada and Mexico: Preliminary affirmative, final decisions pending

Commerce has issued preliminary affirmative antidumping determinations for Canada and Mexico and a preliminary affirmative countervailing duty determination for Mexico. Importers are now posting cash deposits at those rates. Final Commerce determinations are expected on or around December 17, 2026, followed by final ITC votes in early 2027. Because the petitions against all three countries were filed together, the ITC evaluates their imports on a combined basis, and Wabash expects the Canada and Mexico determinations to be affirmative as well.

Section 232: Steel and aluminum tariffs on imported trailers

Imported trailers are also subject to Section 232 tariffs on steel and aluminum. Trailers are covered as derivative products of steel and aluminum. Since April 6, 2026, the 25 percent Section 232 tariff has applied to the full declared value of an imported trailer rather than only to the value of its steel and aluminum content. Section 232 tariffs are separate from antidumping and countervailing duties, and they stack on top of those duties.

How the duties apply

Antidumping duties, countervailing duties, and Section 232 tariffs are each calculated as a percentage of the declared customs value of the imported trailer, which is approximately $35,000 for a typical van trailer. The table below illustrates the combined effect at current rates.

On a $35,000 declared value	China	Canada	Mexico
Antidumping cash deposit	129.73% = $45,406 (final)	4.29% = $1,502 (preliminary)	7.10% = $2,485 (preliminary)
Countervailing duty	134.75% = $47,163 (final)	Not applicable	1.91% = $669 (preliminary)
Section 232 (steel and aluminum)	25% = $8,750	25% = $8,750	25% = $8,750
Total duties per trailer	About $101,300	About $10,250	About $11,900

Canada and Mexico figures use Commerce’s preliminary “all others” rates; company-specific rates vary. China figures use the final China-wide antidumping cash deposit rate and the final subsidy rate. Rates for Canada and Mexico may change at the final determinations.

Rates for leading import competitors

Commerce has set rates that apply to two of the leading foreign producers in the cases. CIMC (China International Marine Containers) builds dry van and refrigerated trailer kits and subassemblies in China, and its Vanguard affiliates assemble and sell them in the United States. Vanguard’s trailers assembled in Canada from Chinese subassemblies are treated as Chinese products. Hyundai Translead exports van trailers to the United States from its plant in Mexico. Wabash estimates that Hyundai and Vanguard together represent approximately 40 percent of U.S. dry van industry capacity, so the duties and tariffs on these two producers affect a substantial share of the market. Fully stacked, the duties on a trailer declared at $35,000 are as follows:

On a $35,000 declared value	CIMC / Vanguard (China; includes Canadian-assembled trailers with Chinese subassemblies)		Hyundai (Hyundai de Mexico S.A. de C.V.)
Antidumping	129.73% cash deposit (130.86% margin, China-wide rate) = $45,406 (final)		8.35% cash deposit (10.19% margin) = $2,923 (preliminary)
Countervailing duty	134.75% (CIMC Baowell Industries and Qingdao CIMC Reefer Trailer) = $47,163 (final)		1.90% = $665 (preliminary)
Section 232 (steel and aluminum)	25% = $8,750		25% = $8,750
Fully stacked rate	289.48%		35.25%
Total duties per trailer	About $101,300		About $12,340
Landed cost before freight	About $136,300		About $47,340

Hyundai’s antidumping and countervailing duty rates are preliminary and may change when Commerce issues its final Mexico determinations, expected on or around December 17, 2026. Antidumping cash deposit rates are adjusted for subsidy offsets. Landed cost equals the declared value plus duties and excludes freight, brokerage, and other charges.

Summary of current status

Action	China	Canada	Mexico
Commerce – antidumping	Final affirmative (Aug. 26, 2026): 130.86%	Preliminary affirmative (July 30, 2026): 4.29%–44.86%; final expected ~Dec. 17, 2026	Preliminary affirmative (July 30, 2026): 3.21%–79.92%; final expected ~Dec. 17, 2026
Commerce – countervailing duty	Final affirmative (Aug. 26, 2026): 134.75%	Terminated (petition withdrawn, June 2026)	Preliminary affirmative (June 2, 2026): 1.90%–62.67%; final aligned with AD
ITC – injury	Final affirmative (Sept. 25, 2026)	Final vote expected early 2027	Final vote expected early 2027
Section 232 (steel and aluminum)	25% of full declared value of imported trailers (since Apr. 6, 2026); stacks with AD/CVD	Same	Same

Management commentary

“The final decision on China confirms what American trailer manufacturers and their employees have seen for years: unfairly traded imports took market share and pushed prices down,” said Brent Yeagy, President and Chief Executive Officer of Wabash. “Hyundai and Vanguard together represent approximately 40 percent of U.S. dry van industry capacity, so these duties and tariffs reach a substantial share of the market. We are encouraged by the preliminary findings on Canada and Mexico and will keep working with the Department of Commerce and the ITC through the final phase. Our focus has not changed. We are investing in American manufacturing, serving our customers, and competing on a level playing field.”

Wabash sources about 95 percent of its materials from U.S. suppliers. It recently added 10,000 units of dry-van capacity at its Lafayette South facility.

About Wabash

Wabash (NYSE: WNC) combines physical and digital technologies to deliver innovative, end-to-end solutions that optimize supply chains across transportation, logistics and infrastructure markets. Headquartered in Lafayette, Indiana, Wabash designs, manufactures, and services an extensive range of products supporting first-to-final mile operations, including dry and refrigerated trailers and truck bodies, platform trailers, tank trailers, structural composites and more. In addition, through the Wabash Marketplace and Wabash Parts, customers gain access to a nationwide parts and service network, Trailers as a Service (TaaS)℠, and advanced tools designed to streamline operations and drive growth. By enabling businesses to thrive today and prepare for tomorrow, Wabash is Changing How the World Reaches You®. Learn more at onewabash.com.

Forward-Looking Statements

This press release contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey the Company’s current expectations or forecasts of future events. All statements contained in this press release other than statements of historical fact are forward-looking statements.

These forward-looking statements include, among other things, all statements regarding the timing and outcome of pending antidumping and countervailing duty proceedings, the issuance and effect of duty orders, the application of Section 232 steel and aluminum tariffs, the Company’s outlook for trailer and truck body shipments, backlog, expectations regarding demand levels for trailers, truck bodies, non-trailer equipment and our other diversified product offerings, pricing, profitability and earnings, cash flow and liquidity, opportunity to capture higher margin sales, new product innovations, our growth and diversification strategies, our expectations for improved financial performance during the course of the year and our expectations with regards to capital allocation.

These and the Company’s other forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements.

Without limitation, these risks and uncertainties include the risks related to highly cyclical nature of our business, uncertain economic conditions including the possibility that customer demand may not meet our expectations, our backlog may not reflect future sales of our products, increased competition, reliance on certain customers and corporate partnerships, risks of customer pick-up delays, shortages and costs of raw materials including the impact of tariffs or other international trade developments, final determinations in trade proceedings that differ from preliminary determinations, changes in trade policy, risks in implementing and sustaining improvements in the Company’s manufacturing operations and cost containment, dependence on industry trends and timing, supplier constraints, labor costs and availability, customer acceptance of and reactions to pricing changes, costs of indebtedness, and our ability to execute on our long-term strategic plan. Readers should review and consider the various disclosures made by the Company in this press release and in the Company’s reports to its stockholders and periodic reports on Forms 10-K and 10-Q.

Media Contact

wabashprteam@padillaco.com

Investor Relations

John Cummings, Sr. Director, FP&A and Investor Relations | (765) 262-2898 | john.cummings@onewabash.com